Is the Gold bull market still here?
Gold technical analysis: One of the most asked questions recently: Is gold's bull market still alive? Indeed, this round of gold adjustment range is very large, and the time is very short, it can be said to break the dream of seeing 3000 in front, but don't worry, look at this year's increase, calculated from 1985, up 800 dollars, whether it is the proportion of the increase, or the price range, are the largest, up for a year, the adjustment of a large wave of retrace, in fact, very reasonable, After all, the bulls have made too many profits in this range this year.
Gold fell this week, closing the week with its biggest decline of the year at $145 a week, and directly to the 100-day moving average, as well as the 50% retracting of the weekly rally. From the weekly correction time, the year's largest correction time cycle is three weeks, in other words, next week to turn positive, but from the decline, there is no sun behind the big Yin, there will be a second decline, at the same time, now such a big decline form, will not strengthen, at most the bottom of the rebound. Therefore, on the weekly front, next week is expected to bottom out, but at most this wave of decline rebound correction.
On the daily side, hit the 100-day MA, which is what we always suggest: the price deviates far from the 100-day MA to return, and once again hit the 100-day MA to pay attention to the second divergence. This time, it is the first time in the year to retrace the 100-day average, but if the price falls below, the later 100-day average is the lifeline of the bulls, need to continue to stand up to be bullish. So, next week's general trend is choppy, one is to correct this wave of decline, one is to fall too much, the bulls are injured, also need to correct. Whether it's down or up, 618 is better to be wrong. Shock in the double top and double bottom are key support and resistance levels, need to pay attention to the zone. But one thing, after such a big drop, don't expect the market to go straight away, this year is basically over
Gold 4-hour average or dead cross down bear array divergence, gold downward there is still room, will not be so fast direct reversal, gold on Friday as a whole is shock, but still short shock, gold 4-hour rebound pressure 2578 line many times rush down, gold even 2580 are not up, or continue to be weak treatment, Gold next week rebound 2578 continue to meet the high, gold rebound around 2575 can first empty. In general, next Monday's short-term gold operation ideas suggest rebound short, supplemented by correction to do more, above the short-term focus on 2578-2580 first-line resistance, below the short-term focus on 2530-2533 first-line support
Gold fell this week, closing the week with its biggest decline of the year at $145 a week, and directly to the 100-day moving average, as well as the 50% retracting of the weekly rally. From the weekly correction time, the year's largest correction time cycle is three weeks, in other words, next week to turn positive, but from the decline, there is no sun behind the big Yin, there will be a second decline, at the same time, now such a big decline form, will not strengthen, at most the bottom of the rebound. Therefore, on the weekly front, next week is expected to bottom out, but at most this wave of decline rebound correction.
On the daily side, hit the 100-day MA, which is what we always suggest: the price deviates far from the 100-day MA to return, and once again hit the 100-day MA to pay attention to the second divergence. This time, it is the first time in the year to retrace the 100-day average, but if the price falls below, the later 100-day average is the lifeline of the bulls, need to continue to stand up to be bullish. So, next week's general trend is choppy, one is to correct this wave of decline, one is to fall too much, the bulls are injured, also need to correct. Whether it's down or up, 618 is better to be wrong. Shock in the double top and double bottom are key support and resistance levels, need to pay attention to the zone. But one thing, after such a big drop, don't expect the market to go straight away, this year is basically over
Gold 4-hour average or dead cross down bear array divergence, gold downward there is still room, will not be so fast direct reversal, gold on Friday as a whole is shock, but still short shock, gold 4-hour rebound pressure 2578 line many times rush down, gold even 2580 are not up, or continue to be weak treatment, Gold next week rebound 2578 continue to meet the high, gold rebound around 2575 can first empty. In general, next Monday's short-term gold operation ideas suggest rebound short, supplemented by correction to do more, above the short-term focus on 2578-2580 first-line resistance, below the short-term focus on 2530-2533 first-line support
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